Social media generally plays a positive role in our lives, but sometimes they pose a serious threat to our data or finances. They are increasingly used for various types of fraud, tempting users with attractive promotions, which then change to the need to pay for subscriptions, or cheap products that are actually counterfeits.
The European Commission has decided to address this issue and has mandated services such as Facebook, Google and Twitter, introducing mechanisms to stop fraud. If they fail to meet this demand, they will face serious legal consequences.
The duties of the portals will include finding a way to look for fraud, and then removing them, because, according to EU Commissioner Věra Jourovej, social media finally wants to take responsibility for the crimes committed through them. The purpose of the change is to make it easier for customers to fight their rights, because fraud is so conceived that the victim is practically devoid of such an opportunity.
The Commission has given the aforementioned three portals a month to create the right solution or they will have to pay severe penalties.